BitPanda is set to add IOTA (MIOTA) and Komodo (KMD) cryptocurrencies to its exchange platform according to the statement.
Komodo will be introduced on June 12 with IOTA coming a few days later, on June 14.
Both currencies will be added as ‘trade only’ (buy and sell) options at first but BitPanda says it’s working with teams behind both IOTA and Komodo to introduce fully operational wallets to their platform later in the year.
Bitpanda says the IOTA is being added due to a popular demand for the currency to appear on the platform. Meanwhile the launch of Komodo is tied to the extensive partnership between the firms, that are also working together on developing BitPanda’s own meta token – PAN. According to the co-founder of the Austria-based exchange platform, Eric Demuth, more cryptocurrencies are likely to be added soon.
“..we are not only launching Komodo and IOTA, but are ready to speed things further up and offer our users new cryptocurrencies on a regular basis.”
The fast-paced plan also suggests that BitPanda could be gearing up to challenge crypto exchange giants such as Binance and Coinbase.
BitPanda adding IOTA and Komodo is a significant step to both currencies since neither has an abundance of fiat gateways. This could prove to be a vital move for altcoins in general since the crypto community generally believes that once more currencies form fiat pairs, the bitcoin may start to lose its dominance.